What have you learned from this forum?

[Donzo]

There have been many "light bulb" moments while reading here. But three basics.

!) Allocate your nest egg for growth and safety. Buckets or not.

2) Don't try to time the market. 9 out of 10 times...you lose.

3) Don't worry about a market downturn - expect it - ride it out - see #1.

Learned/learning alot w/ some good laughs along the way.

 

[bosco]

various withdrawal schemes
ESR Bob's book, and his "rational" asset allocation
compared to some folks on this forum, my ego isn't overblown after all!

 

[sheboyganite]

!) That there are a lot of like-minded folk out there, which makes me feel like less of a freak(!)

2) That replacing expenses in retirement is a lot different from replacing income...easier mostly.

3) Investment expenses are important, moved what I could to Vanguard and it has been good there.

4) That those online calculators are pretty worthless, except for FireCalc, which was probably my first Aha! moment when I saw that this was going to work.

I know that's not three, but hey, I'm a librarian, a words person, not a numbers person (which is why #4 was so important)

Sheboyganite

 

[albundyz]

1. how lucky I am to have an old fashioned pension plan
2. FIRE is possible
3. that there are people in the world who view money like I do.

I am surrounded by my family who are mostly not financially responsible. They ignore my advice. They think I'm nuts for driving a 7 year old car. They think I'm nuts for turning off the lights in the kitchen when no one is there. They think I'm nuts to have no debt. (I do this so I can retire early!) I come to this website and read the messages and realize that I there are a lot of people who view money like I do.....thanks for all the ideas!

 

[scrinch]

1. Income taxes after retirement will likely be much lower than I had previously considered.

2. It is nonsense to calculate needed after-retirement income based on pre-retirement income.

3. A 1% financial planning fee during the accumulation phase is a nuisance that can significantly set back retirement. But in the post-retirement phase it is 25% of your income!

4. If you try to cook omelets by boiling the eggs in a plastic bag, don't let the part of the bag that is out of the water touch the side of the pot. If you do, the bag might melt, and when later submerged, might let the egg goop out into the water, creating a large pot of unseasoned egg-drop soup!

 

[calmloki]

This is a great thread! For the lazy among us the low hanging fruit is sweet. And, for instance, searching for "retire at the pie shop" is not a search term that leaps readily to mind!

 

[JohnEyles]

I've learned that bonds are a lot more complicated than stock. Stock is
kinda a no-brainer: just buy a decent diversified portfolio of Vanguard
index funds and be done with it. Bonds on the other hand ... So I hope
I've learned something about bonds. DEFINITELY have learned about some
good specific fixed-income investments: Penfed 6.25% CDs, and ISM/OSM
inflation-linked bonds.

 

[haha]

I've learned that bonds are a lot more complicated than stock. Stock is
kinda a no-brainer: just buy a decent diversified portfolio of Vanguard
index funds and be done with it.

This is only true on the theory of "What you don't know can't hurt you."

Ha

 

[audreyh1]

I learned that I WAS NOT ALONE!

And I am profoundly grateful for that!

Audrey

 

[Empty Pockets]

Don't brag about your Financial Advisor, Annuity or VUL...

 

[tryan]

!) FIRECLAC

2) Dryer sheets can be recycled!

3) Meth can be made in the tub.

 

[Poundkey]

I've realized that being frugal ("tight" as my friends and family call it) isn't as abnormal as they would have me think.

I've learned that there are some VERY sharp folks here. I wish I knew as much as they do, and always look forward to their thoughts.

I learned that job stress was responsible for most (if not all) of my health problems. I'm feeling MUCH better now.

 

[Donzo]

Three Nuggets? Well....here goes:

1. Most of my fears about ER were unfounded.
2. ER doesn't have to be permanent, temporary, good or bad. It is an adventure,
one day at a time!
3. ER isn't going to be fun if I worry about $$ too much. Luckily, I don't have to.

Okie, I really like this thought(#2) A day by day adventure....to be enjoyed-really sums it up! It is all about attitude 8)

 

[d]

I learned that I WAS NOT ALONE!
And I am profoundly grateful for that!

ditto

 

[Caroline]

I've learned that you can have a plan, work your plan, mind your own business, and WHAM! A hurricane blows your house away, or cancer takes your spouse, or you get MS and have to hang on for the healthcare, or you get cancer yourself a month before you retire...

Life isn't fair, and it isn't fair that it isn't fair.

But.

I've also learned that there are folks who've never even met you outside this chat room who actually CARE when this stuff happens to you. This, I think, is amazing and wonderful.

Finally, I've learned (though I still haven't quite processed it), that there are folks who have $7M who don't think they have enough.

If I had to sum it ALL up into one meta-lesson, I'd have to agree with the likes of OkieTexan and Donzo -- Carpe Diem.

 

[runchman]

I've learned that if you are a financial advisor trying to sell macs, these forum members might not be lucrative prospects.


Seriously, great reinforcement of the benefits of a simple asset-allocation index fund approach.

 

[Retire Soon]

1) Mutual fund companies and financial planners frequently over estimate the amount of money needed to retire (e.g., 80% of current income), because it is to their advantage so keep older workers on the payroll as they make more money and invest more in 401k's, 457's, and 403b's than younger replacement workers.

2) Postponement of Social Security benefits can be financially advantageous.

3) Collectively, ER Forum posters can solve even the world's most difficult problems.

 

[cute fuzzy bunny]

3) Collectively, ER Forum posters can solve even the world's most difficult problems.

Just dont ask us to actually fix the problems. Our strength ends at pontification.

I've learned all sorts of things. The biggest reinforcement of a prior learning was that a lot of people are exceptionally good at ignoring the numbers that dont support what they really want to do.

 

[savedapile]

1. It takes all kinds to make the world go round and some people who post on anonymous websites are full of BS.
2. SWR
3. Most here have a very good sense of humor which could be related to the fact they won't be working until they are 70

 

[Mysto]

1. Don't ever mention annuities or buckets.

2. 101 uses for beaver cheese.

3. Psssssst Wellesley!

Oh and some misc. stuff that has helped to me pull the plug in another 10 months. That's right gang - I am official at the end of this year with both me and DW on our way to (late) ER. Thanks.

 

[Tawney]

I started reading this board several months ago, when I was first thinking of ER but was still insecure about "not w*rking".
Now I am THREE WEEKS away, and very much winding down...

What I've learned:
1) Don't spill the beans on your ER plans prematurely: wait as long as you can because there may be a buy out offer or other development you can't anticipate;
2)There are other people in the world who LBYM; we're not the only ones who didn't buy the big house, etc, etc.
3)A lot of really smart people read this board and post here! Thanks!

 

[TromboneAl]

Too many things to list. Thanks guys and gals!

 

[SLC Tortfeasor]

I now understand the true importance of dryer sheets.

 

[BigMoneyJim]

I had my basic investing principles figured out before coming to this board, but since I've been here I got comfortable with REIT index as a part of my portfolio and taken a liking to balanced funds like Wellington and LS Moderate over scratch building my own AA.

EDIT: Wellington, not Windsor. I always get those Vanguard "W"s mixed up.

 

[WanderALot]

1. ER is possible
2. SWR
3. Loads of investment ideas

I find that I often don't apply what I know. I've read up on asset allocation, proper diversification etc before I found this website, but I never sat down and did it. Seeing people regularly applying these principles has a way of kicking me upside the head to apply what I learned!

Thanks everyone!